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ESG, or the environmental, social, and corporate governance guidelines set forth by asset managers such as BlackRock, is a refuge for charlatans.
The guidelines broadly refer to the goal of achieving ‘net-zero’ carbon emissions that have been pushed on businesses by leftists who can’t pass their environmental agenda legislatively. This fixation has done significantly more harm to the environment and social well-being than good. Companies are incentivized to pour vast resources into offsetting their emissions through projects such as reforestation or carbon capture to earn a higher ESG score despite potentially contributing to a worse environment.
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